Infosys is laying off people in the middle and top rung to trim the workforce. The company is letting go of people in the ranks of senior managers, associates as well as the middle bands. In job level 6 that refers to senior managers, Infosys is laying of 10 per cent of the staff, which translates to 2,200 people, as mentioned in a report in Times of India. The company has 30,092 employees in the job level 6, 7, and 8 bands, as mentioned by the daily.
In the job level 3 or below and the job levels 4 and 5, the company is trimming around 2-5 per cent of the workforce. This translates to 4,000 to 10,000 employees. There are 86,558 in the associate band and 1.1 lakh employees in the middle band, respectively.
Around 50 of the 971 title holders, including assistant vice presidents, vice presidents, senior vice presidents and executive vice presidents are also likely to be handed pink slips.
The company told the daily that involuntary attrition is integral to normal course of business and it should not be interpreted as any mass trimming across any level.
The daily mentioned that the number of people Infosys is letting go appears higher than the layoffs that happened in recent years. Infosys had asked people to leave based on their performances in the past.
In the June quarter, COO Pravin Rao said that involuntary attrition was higher in that quarter as compared to the same quarter in the previous year. In September quarter, the company had reported 19.4 per cent attrition, out of which 18 per cent was voluntary. The company saw 1.4 per cent involuntary attrition in the July-September period.